IRIS Software Group Limited
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IRIS Software Group Limited - overview
Established
1978
Location
-, Berkshire, UK
Primary Industry
Software
About
IRIS Software Group Limited is a UK-based provider of comprehensive software solutions, specializing in accounting, HR, payroll, and education, serving over 100,000 clients worldwide. Founded in 1978, IRIS Software Group Limited focuses on delivering software solutions that enhance operational efficiency. The company has undergone strategic shifts to optimize its offerings. Headquartered in the UK, it has established a global presence with operations extending to North America, Europe, and Asia.
The company recently completed its Secondary Buyout in December 2023, raising GBP 1,300. 00 mn, with Hg and Intermediate Capital Group as significant investors. The firm has been involved in 8 deals to date. IRIS Software Group specializes in providing comprehensive business software solutions designed to address mission-critical operational tasks across various sectors, including accounting, HR, payroll, and education.
The firm’s core product offerings encompass an integrated suite of software solutions that streamline processes, enhance compliance, and improve engagement for over 100,000 customers across 135 countries. Key functionalities include financial management software that consolidates accounting and finance administration, HR solutions that facilitate employee lifecycle management, and education management systems that support school administration and parental engagement. These products are utilized by a diverse client base, including accountants in practice, educational institutions, and corporate HR departments, ensuring a broad geographical reach that includes markets in North America, Europe, and Asia. In the most recent fiscal year 2024, IRIS Software Group reported a revenue of GBP 469,767,032 and an EBITDA of GBP 19,070,169.
2. The company primarily generates revenue through subscription services, partnerships, and direct sales of its software products. Clients typically engage with the company through long-term subscriptions that provide access to various software functionalities and updates, ensuring ongoing compliance and productivity enhancements. Transactions are often structured as B2B agreements, where organizations purchase licenses for multiple users or opt for tailored solutions based on their specific operational requirements.
Following the acquisition agreement made in December 2023 with Leonard Green & Partners, IRIS Software Group plans to utilize the reinvestment of GBP 99. 8 million to expand its operations, specifically targeting the North American market. This strategic goal aims to enhance its footprint and service delivery in a region with significant growth potential.
Current Investors
Primary Industry
Software
Sub Industries
Systems Management Software, HR & Workforce Software, Education & Training Software, Accounting/Finance Software
Website
www.iris.co.uk
Verticals
Artificial Intelligence, Cloud Computing
Company Stage
Mature
Total Amount Raised
Subscriber access only
IRIS Software Group Limited - financials
| Fiscal Year Ended | Apr 30, 2010 | Apr 30, 2011 | Apr 30, 2012 | Apr 30, 2013 | Apr 30, 2014 | Apr 30, 2015 | Apr 30, 2016 | Apr 30, 2017 | Apr 30, 2018 | Apr 30, 2019 | Apr 30, 2020 | Apr 30, 2021 | Apr 30, 2022 | Apr 30, 2023 | Apr 30, 2024 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (USD) | - | - | 100,673,000 | 60,230,000 | 67,378,000 | 85,500,000 | 98,117,000 | 113,131,000 | 139,848,000 | - | - | - | - | - | - |
| % Revenue Growth (YoY) | - | - | - | (40.2%) | 11.9% | 26.9% | 14.8% | 15.3% | 23.6% | (100.0%) | - | - | - | - | - |
| EBITDA (USD) | 3,875 | - | 40,103,000 | 29,135,000 | 33,273,000 | 37,760,000 | 39,772,000 | 48,959,000 | 60,481,000 | - | (1) | - | - | - | - |
| Operating Income (USD) | 3,875 | - | 14,716,000 | 12,283,000 | 14,649,000 | 33,833,000 | 34,796,000 | 39,357,000 | 48,225,000 | - | (1) | - | - | - | - |
| Operating Margin | - | - | 14.6% | 20.4% | 21.7% | 39.6% | 35.5% | 34.8% | 34.5% | - | - | - | - | - | - |
| % EBITDA Margin | - | - | 39.8% | 48.4% | 49.4% | 44.2% | 40.5% | 43.3% | 43.2% | - | - | - | - | - | - |
| NET Income (USD) | 1,441,645 | - | (85,563,000) | (7,174,000) | (7,455,000) | 11,557,000 | 4,526,000 | 14,586,000 | 18,871,000 | 549,089,069 | (1) | - | - | - | - |
| % Net Margin | - | - | (85.0%) | (11.9%) | (11.1%) | 13.5% | 4.6% | 12.9% | 13.5% | - | - | - | - | - | - |
IRIS Software Group Limited - deals
| Deals Type | Deal Status | Target (s) | Deal Date | Investor(s) | Seller(s) | Deal size (Mn) | Enterprise value (Mn) | Post-money valuation (Mn) | EBITDA multiple (x) | Revenue multiple (x) | Lead partner (s) |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Add-on, Trade Sale | Completed | Dext Software Limited | - | ||||||||
| Add-on, Trade Sale | Completed | SwipeClock, LLC | - | ||||||||
| Secondary Buyout | Completed | IRIS Software Group Limited | - | ||||||||
| Add-on | Completed | Blue Octopus | - | ||||||||
| Add-on | Completed | Bishop Fleming | - |
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